NASCON unveils new identity, as shareholders endorse 50 kobo dividend

NATIONAL Salt Company of Nigeria (NASCON) shareholders have applauded the company for successfully changing its identity to Nascon Allied Industries Plc to reflect current investments and new operational status as a manufacturer of other related consumer and daily needs, even as they approve firm’s N1.32 billion, culminating to 50 kobo per share due to every investor of the company for the 2014 financial year, shareholders of National Salt Company of Nigeria (NASCON) yesterday commended the company on the huge investment made in production of tomato paste, vegetable oil and seasoning.

The shareholders, who spoke during the 2014 yearly general meeting of the company, held in Lagos yesterday, commended the company on the huge investment made in production of tomato paste, vegetable oil and seasoning.

They also urged the board to strengthen its research and development department to achieve optimal result and enhance operations.

Specifically, a shareholder, Kazeem Olayiwola lauded the management for enhancing their returns on investment through dividend payout.

Olayiwola expressed satisfaction on the successes recorded so far in the production of other food condiments apart from salt, adding that the investment would translate into more values for stakeholders.

He charged the management of NASCON especially the marketing division to be more innovative as to drive more sales of the several range of products now available within the company. He specifically tasked the management to pay more attention to staff training and incentives, as these are essential to drive productivity.

Another shareholder, Sotunde Sopeju also commended the management for turning around the fortunes of NASCON, which has now gone beyond salt refining.

He said that NASCON has done well in paying of dividends adding that most of the banks are unable to pay dividends.